Member Info for ocelot

"They don't ring a bell at the bottom. There's never an unambiguous buying signal to tell investors when a brutal sell-off is over and it's a good time to board the stock-market roller coaster again ...

There will be a moment when the smart money sees the bearishness as overdone relative to valuations and piles in. It will come long before mainstream opinion sees the crisis as over. They won't ring a bell".

The estimated uplift cost is coming down: in a presentation document some time back it was $21 or £17.

£200k converted and sold since 5th March.

Riverfort have completed the sale of their tranche of converted stock (imho):

1,883,676 at 0.625p at 08:22.

On the basis of GL's £3.5m of cash, net, annually, think 4p is a reasonable target, on the basis of Saltfleetby alone.

Presumably, that relates to Spanish stocks with a London quotation.

... The ability to book reserves also opens the way to potential debt funding, a positive step towards both creation and preservation of shareholder value."

George Lucan of Angus has given an interview to lse.

Asked to explain why their Balcombe ewt is for 3 years, he answers that the Kimmeridge is not yet fully understood, with oil maturity varying greatly from km to km, the work done so far being of a "pioneering" nature, and goes on to say:

"Within 3 years' time, the picture of the Weald will be very much better for those remaining players".

... Two weeks after the first 10 towns in northern Italy were declared a "red zone" and put under lockdown, he (Italian Foreign Minister Luigi Di Maio) said they had no new infections.

This then served as a model to tighten measures across the country.

"Italy was the first nation in Europe to be affected so badly," said Mr Di Maio. "But I hope it also means that Italy is the first one to leave the emergency behind."

https://www.bloomberg.com/news/articles/2020-03-12/n-y-fed-to-conduct-purchases-across-range-of-maturities-k7ozy3u5

From Bloomberg:

U.S. stocks tumbled, but pared the worst of their losses as the Federal Reserve expanded plans to buy government bonds and alleviate what it called “temporary disruptions” in financing markets...

“We need to see what is effectively a ‘declaration of war’ against the virus and full support to offset the economic damage that war will cost,” said Peter Tchir, head of macro strategy at Academy Securities LLC. “Whatever has gone on this week, it’s not a liquidity crunch.”

Angus's George Lucan has given an interview this afternoon.

I bring to you one interesting point he made re Riverfort:

given current volatile markets, he thinks Riverfort may not want to find themselves holding too large a percentage of Angus's shares, so may wait a little before their next conversion.

4m trade at 0.56p.

Riverfort must be quite close to completing the sell of their last conversion by now.

almost 2.2m at 36.30p.

True!

Never thought I'd see it so low!

better trade

Bloomberg article speaks of "revenge spending" by consumers in China on luxury products, revenge for having been cooped up inside for the last many weeks.

Early days yet, but first signs of China coming alive again.

https://www.bloomberg.com/news/articles/2020-03-12/luxury-shoppers-in-china-emerge-from-quarantine-to-buy-again?srnd=premium

Bloomberg article speaks of "revenge spending" by consumers in China on luxury products, revenge for having been cooped up inside for the last many weeks.

Early days yet, but first signs of China coming alive again.

And this from the BBC's live reporting:

Codogno, a town in northern Italy, is the epicentre of the coronavirus outbreak in the country.
But the town's mayor, Francesco Passerini, has said the number of new infections is steadily decreasing, and that this gives him "hope" they can defeat the virus.
"We are close to zero growth," he told Corriere newspaper (in Italian).